Fortress Real Capital

Fortress Real Capital

September 13, 2011 11:38 ET

Lamb and Fortress Real Capital Look to Bank on Further Success in Ottawa

OTTAWA, ONTARIO--(Marketwire - Sept. 13, 2011) -

Editors Note: There is a photo associated with this press release.

The busy Ottawa development scene will have an exciting new design soon with the announcement today of another project by Toronto developer Brad J Lamb. SoBa, named for its location south on Bank Street, just West of the intersection at Catherine Street. SoBa will bring 19 stories and close to 250 units of premium designed urban living to the downtown area. This is the second such project in the Ottawa area between Lamb Development Corporation and his partners at Fortress Real Capital, based in Richmond Hill.

"Ottawa is a great town. Our ideas for SoBa are to really ignite this part of Centretown with a hip, cool building. I want people to stop and stare at this tower, it's an amazing project", said Lamb, after a presentation at the Chateau Laurier with local investors on Wednesday evening. "I am excited about opening the Gotham sales centre in a few weeks, buyers are going to love what we are there and we think SoBa will be another killer project".

Lamb's unique touch has propelled him to the ranks of being a top developer in less than a decade as his realty company continues to break their own records. With over $5 billion of condo sales to date, Lamb has seen it all and has a keen sense for giving buyers what they want. "Brad's track record of success speaks for itself. We're very pleased to be doing another project with Lamb Development Corp. and are thrilled to bring SoBa to our terrific customers in Ottawa" said Jawad Rathore, Chief Strategic Officer of Fortress Real Capital. Fortress, a leading Canadian real estate investment firm, offers investment opportunities to retail customers looking for regular cash flow and direct security and collateral. "As a real estate investor, you want to be secured against the land or building, that's the only way to have any actual security in a real estate transaction. Otherwise you're just investing in paper and not the actual project directly" offered Ildina Galati, owner and principal broker of Centro Mortgage, the lead brokerage offering the Fortress product.

This type of investment structure is gaining more popularity with consumers who are increasingly frustrated with traditional products and the capital markets. Marnie Bennett, an Ottawa based realtor and team leader of Bennett Real Estate Professionals, has specialised in wealth building through real estate for over 20 years and sees new investing habits starting to emerge. "People want something tangible", said Bennett. "Bennett Pros analyses dozens of deals every month to find the ones that suit our customer's interests the best. Fortress and Brad Lamb are a great fit for the Ottawa market, it's a smart deal and a great opportunity".

Growth remains strong and Fortress is already planning a busy 2012 with new projects slated for Toronto, Regina and Calgary. "Our goal is to be the premiere choice for equity partnership in both the private and public sector. Whether its condos, low rise, hotels or even stadiums… Fortress finds quality developments" said Galati over the buzz of 200 attendees at their investment seminar. "Where else can an everyday Canadian get a piece of a $100 million project like that?"

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